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Matamec Intersects Mineralized Zones up to 16.45 Meters Thick Grading 0.954% TREO, 38% + HeavyREO+Y2O3/TREO and 1.304% ZrO2 in the Central Part of the Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - Sept. 23, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT - News) is pleased to announce that it has received preliminary analytical results from the drill holes it completed this summer on rare earths-yttrium-zirconium (REE-Y-Zr) Kipawa deposit, located within the Zeus property in western Quebec. These results are considered preliminary pending re-analysis of overlimit samples, currently in progress. Although the results are not yet complete, the preliminary results are presented in Table 1 below for the twenty (20) drill holes drilled during this program, KM-62 to KM-81. These drill holes, which total more than 2,115 meters, were mostly drilled down-dip from the previously drilled holes within the central part of the Kipawa deposit. The best preliminary result is 0.954% TREO (total rare earth oxides), with 38% HeavyREO+Y2O3/TREO and greater than 0.717% ZrO2 over 16.45 meters in hole KM-78.Press Release Highlights




-- More than 2,115 meters of drilling, in 20 holes, were completed this
summer on the central part of the REE-Y-Zr
-- Kipawa deposit; The Kipawa deposit is considered both open laterally
and at depth;
-- Once complete analytical results are received, a new resource
calculation will be undertaken;
-- A second drilling campaign is scheduled for Fall 2010 to improve the
quality of the resources.

All drill holes contain mineralized zones, ranging from 0.284% to greater than 1.579% TREO and/or from 0.177% to greater than 1.304% ZrO2 over thicknesses ranging from 0.4 to 16.45 meters. Also, these intersections contain 11% to 69% of HeavyREO + Y2O3/ TREO. In the table below REO-defined zones (using a 0.1% Y2O3 cut-off) are listed in italics, ZrO2 defined zones (using a 0.5% ZrO2 cut-off) are listed in normal type.The 20 holes drilled during the present program are identified by green squares in Figure 1. It should be noted that the green outline on the Figure 1 delineates the area in which resources were calculated by the independent firm SGS Canada Inc. - Geological Group Geostat (press release dated June 3, 2010) after the 2009 drilling campaign. The results from these 20 new drill holes will substantially increase these resources. Once the final results from the analyses are received, a new resource calculation will be undertaken.




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Table 1 Preliminary Analyses Results First Drilling Campaign of 2010 on
the Kipawa Deposit
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Drill From To Width ZrO2 LREO IREO HREO Y2O3 TREO % HREO
Hole (m) (m) (m) (%) (%) (%) (%) (%) (%) +Y2O3/TREO
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KM62 greater
than
19.6 47.0 27.4 0.816 0.164 0.016 0.027 0.059 0.266 24
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KM62 29.1 33.6 4.55 0.843 0.318 0.03 0.047 0.098 0.494 29
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greater
than
51.2 62.0 10.7 1.143 0.092 0.016 0.046 0.084 0.239 29
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KM62 51.22 53.15 1.93 1.205 0.251 0.035 0.085 0.163 0.534 46
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KM62 55.2 58.75 3.55 1.215 0.083 0.02 0.07 0.119 0.293 65
-------------------------------------------------------------------------
greater
than
70.5 73.7 3.2 1.056 0.021 0.002 0.003 0.008 0.035 26
-------------------------------------------------------------------------
greater
than
76.5 100.9 24.4 1.026 0.064 0.007 0.014 0.024 0.109 24
-------------------------------------------------------------------------
greater
than
103.5 107.4 3.9 0.876 0.129 0.011 0.016 0.033 0.188 34
-------------------------------------------------------------------------
KM63 greater
than
18.0 25.5 7.5 0.716 0.156 0.015 0.025 0.053 0.249 22
-------------------------------------------------------------------------
KM63 27.95 29.60 1.65 0.31 0.543 0.081 0.137 0.327 1.088 43
-------------------------------------------------------------------------
29.6 45.0 15.4 0.785 0.249 0.023 0.030 0.062 0.364 23
-------------------------------------------------------------------------
KM63 37 39 2 0.49 0.562 0.048 0.048 0.112 0.769 21
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KM63 42 43.6 1.6 0.861 0.391 0.038 0.069 0.135 0.633 32
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greater
than
48.1 53.6 5.5 0.924 0.175 0.025 0.059 0.112 0.372 23
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KM63 greater
than
51.4 53.55 2.15 1.141 0.371 0.055 0.132 0.246 0.804 47
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greater
than
58.5 107.2 48.7 1.003 0.062 0.007 0.015 0.029 0.113 53
-------------------------------------------------------------------------
KM63 greater
than
104.45 107.2 2.75 0.72 0.354 0.03 0.062 0.154 0.600 36
-------------------------------------------------------------------------
KM64 greater
than
18.8 22.6 3.7 1.050 0.052 0.005 0.009 0.019 0.084 36
-------------------------------------------------------------------------
greater
than
25.3 96.0 70.7 0.748 0.220 0.035 0.063 0.130 0.447 45
-------------------------------------------------------------------------
KM64 26.33 28.07 1.74 0.809 0.68 0.097 0.169 0.415 1.361 43
-------------------------------------------------------------------------
KM64 30.3 34.45 4.15 0.737 0.54 0.046 0.058 0.117 0.761 23
-------------------------------------------------------------------------
KM64 38.6 40.95 2.35 0.838 0.307 0.032 0.055 0.118 0.512 34
-------------------------------------------------------------------------
KM64 92.6 98.65 6.05 0.383 0.565 0.062 0.106 0.25 0.983 36
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KM65 greater
than
16.3 40.1 23.8 0.835 0.199 0.018 0.026 0.058 0.301 11
-------------------------------------------------------------------------
KM65 37.15 40.05 2.9 0.769 0.472 0.045 0.073 0.164 0.754 31
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greater
than
42.8 50.5 7.6 1.081 0.225 0.035 0.093 0.179 0.532 36
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KM65 greater
than
44.22 47.7 3.48 1.017 0.401 0.061 0.167 0.319 0.948 51
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greater
than
57.0 91.0 34.0 0.950 0.079 0.008 0.018 0.037 0.143 28
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KM65 78 79,5 1.5 1.351 0.233 0.029 0.058 0.135 0.455 42
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KM65 85.5 88 2.5 0.729 0.317 0.026 0.048 0.105 0.495 31
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KM66 greater
than
25.2 61.7 36.6 0.865 0.124 0.015 0.032 0.061 0.232 20
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KM66 greater
than
39.2 41.3 2.1 1.275 0.415 0.069 0.199 0.364 1.046 54
-------------------------------------------------------------------------
greater
than
67.5 91.5 24.0 0.931 0.108 0.010 0.017 0.034 0.169 69
-------------------------------------------------------------------------
KM67 greater
than
20.7 55.0 34.4 0.898 0.136 0.014 0.020 0.042 0.212 11
-------------------------------------------------------------------------
KM67 33.05 39 5.95 0.899 0.303 0.032 0.049 0.10 0.484 31
-------------------------------------------------------------------------
greater
than
58.5 87.0 28.5 0.874 0.095 0.011 0.023 0.043 0.172 23
-------------------------------------------------------------------------
KM68 greater
than
48.0 58.0 10.0 0.924 0.096 0.009 0.015 0.027 0.147 57
-------------------------------------------------------------------------
greater
than
81.0 95.4 14.4 1.024 0.055 0.006 0.012 0.019 0.093 26
-------------------------------------------------------------------------
KM68 96 96.4 0.4 0.382 0.421 0.035 0.051 0.101 0.608 25
-------------------------------------------------------------------------
KM69 28.1 31.5 3.4 0.594 0.064 0.005 0.009 0.018 0.096 22
-------------------------------------------------------------------------
KM69 44.1 48.5 4.4 0.7 0.388 0.039 0.062 0.131 0.620 31
-------------------------------------------------------------------------
greater
than
44.1 65.4 21.3 0.814 0.139 0.014 0.023 0.047 0.223 15
-------------------------------------------------------------------------
greater
than
83.0 93.3 10.3 1.304 0.058 0.006 0.013 0.020 0.097 35
-------------------------------------------------------------------------
KM69 94.15 95.7 1.55 0.177 0.49 0.051 0.07 0.165 0.775 30
-------------------------------------------------------------------------
KM70 47.5 52.9 5.5 1.067 0.272 0.023 0.036 0.067 0.397 17
-------------------------------------------------------------------------
KM70 greater
than
58.95 62.85 3.9 1.264 0.16 0.028 0.074 0.136 0.398 53
-------------------------------------------------------------------------
greater
than
59.0 70.5 11.6 1.159 0.027 0.003 0.008 0.013 0.051 37
-------------------------------------------------------------------------
greater
than
74.4 81.2 6.8 0.880 0.029 0.003 0.006 0.012 0.049 37
-------------------------------------------------------------------------
84.0 89.0 5.0 0.610 0.123 0.010 0.013 0.029 0.176 27
-------------------------------------------------------------------------
greater
than
94.7 105.0 10.3 0.856 0.089 0.008 0.014 0.025 0.135 66
-------------------------------------------------------------------------
KM71 greater
than
28.5 37.3 8.8 0.815 0.139 0.011 0.013 0.024 0.187 16
-------------------------------------------------------------------------
43.5 48.2 4.7 0.528 0.118 0.012 0.020 0.046 0.197 34
-------------------------------------------------------------------------
greater
than
59.5 69.0 9.6 1.048 0.045 0.007 0.018 0.035 0.105 37
-------------------------------------------------------------------------
greater
than
72.0 98.1 26.1 0.918 0.039 0.004 0.008 0.014 0.065 40
-------------------------------------------------------------------------
greater
than
101.4 111.9 10.6 0.880 0.096 0.011 0.024 0.052 0.183 30
-------------------------------------------------------------------------
KM71 107.3 108 0.7 1.351 0.263 0.043 0.124 0.289 0.719 57
-------------------------------------------------------------------------
KM72 32.1 41.9 9.8 0.724 0.219 0.020 0.027 0.060 0.325 18
-------------------------------------------------------------------------
KM72 47.51 48.4 0.89 1.092 0.228 0.033 0.086 0.143 0.491 47
-------------------------------------------------------------------------
greater
than
51.3 66.4 15.1 0.963 0.060 0.007 0.016 0.031 0.114 24
-------------------------------------------------------------------------
75.0 81.0 6.0 0.935 0.078 0.005 0.006 0.012 0.101 19
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greater
than
96.0 109.8 13.8 1.043 0.092 0.009 0.017 0.032 0.149 24
-------------------------------------------------------------------------
KM73 greater
than
33.8 59.5 25.7 0.795 0.165 0.016 0.024 0.047 0.252 13
-------------------------------------------------------------------------
KM73 35.45 37.75 2.3 0.447 0.629 0.055 0.068 0.135 0.887 23
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greater
than
74.6 84.0 9.4 0.932 0.052 0.004 0.006 0.011 0.072 27
-------------------------------------------------------------------------
greater
than
94.5 104.5 10.0 0.853 0.076 0.008 0.014 0.029 0.127 65
-------------------------------------------------------------------------
108.6 112.0 3.4 0.669 0.175 0.017 0.024 0.047 0.263 26
-------------------------------------------------------------------------
KM74 greater
than
20.4 54.1 33.7 0.875 0.321 0.028 0.039 0.081 0.470 17
-------------------------------------------------------------------------
KM74 30.35 36.5 6.15 0.638 0.347 0.035 0.057 0.139 0.578 34
-------------------------------------------------------------------------
KM74 greate greater
r than than less than
51 54.05 3.05 0.764 1.175 0.096 0.11 0.198 1.579 20
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greater
than
57.0 83.6 26.6 1.093 0.093 0.009 0.017 0.033 0.152 38
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KM75 greater
than
29.4 38.2 8.8 0.873 0.173 0.018 0.024 0.045 0.259 30
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greater
than
44.1 86.4 42.3 0.873 0.101 0.011 0.022 0.042 0.176 19
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KM75 49.5 51.35 1.85 0.446 0.374 0.034 0.056 0.121 0.586 30
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KM75 greater
than
54.55 57.65 3.1 1.261 0.155 0.025 0.069 0.126 0.375 52
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greater
than
89.7 100.1 10.4 1.101 0.095 0.009 0.017 0.030 0.150 26
-------------------------------------------------------------------------
KM76 58.0 67.7 9.7 0.656 0.170 0.016 0.023 0.042 0.251 25
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greater
than
70.5 88.8 18.3 0.914 0.051 0.006 0.013 0.022 0.093 24
-------------------------------------------------------------------------
greater
than
96.0 105.8 9.8 1.008 0.136 0.013 0.022 0.039 0.210 49
-------------------------------------------------------------------------
KM77 36.4 45.8 9.4 0.897 0.155 0.015 0.024 0.042 0.236 25
-------------------------------------------------------------------------
greater
than
78.0 95.2 17.2 0.920 0.054 0.006 0.015 0.028 0.104 24
-------------------------------------------------------------------------
KM77 85 86.35 1.35 0.841 0.093 0.021 0.058 0.112 0.284 60
-------------------------------------------------------------------------
KM78 19.3 34.1 14.9 0.754 0.382 0.047 0.075 0.177 0.681 25
-------------------------------------------------------------------------
KM78 greater
than
23.95 40.4 16.45 0.717 0.525 0.064 0.11 0.255 0.954 38
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greater
than
38.0 51.7 13.7 0.850 0.334 0.037 0.073 0.156 0.600 15
-------------------------------------------------------------------------
greater
than
54.6 77.2 22.7 1.049 0.069 0.008 0.019 0.031 0.127 25
-------------------------------------------------------------------------
KM79 25.4 28.5 3.1 0.839 0.054 0.004 0.007 0.016 0.081 30
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greater
than
34.4 63.0 28.7 1.012 0.189 0.021 0.043 0.086 0.338 18
-------------------------------------------------------------------------
KM79 greater
than
45.6 53.3 7.7 1.121 0.316 0.042 0.098 0.197 0.653 45
-------------------------------------------------------------------------
greater
than
75.0 81.0 6.0 0.930 0.052 0.005 0.009 0.015 0.081 18
-------------------------------------------------------------------------
84.1 86.7 2.6 0.640 0.137 0.012 0.016 0.029 0.195 20
-------------------------------------------------------------------------
KM80 greater
than
93.7 104.8 11.2 0.959 0.014 0.002 0.003 0.007 0.027 55
-------------------------------------------------------------------------
KM81 greater
than
15.7 97.4 81.7 0.913 0.123 0.014 0.028 0.055 0.220 18
-------------------------------------------------------------------------
KM81 greater
than
25.25 29.35 4.1 1.162 0.391 0.051 0.095 0.185 0.722 39
-------------------------------------------------------------------------
KM81 47.85 49.75 1.9 0.962 0.45 0.047 0.086 0.168 0.750 34
-------------------------------------------------------------------------
KM81 greater greater greater
than than than greater
62.05 64.7 2.65 0.754 0.734 0.082 0.180 0.35 1.346 than 39
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greater
than
99.85 103.2 3.3 1.074 0.378 0.034 0.052 0.113 0.577 38
-------------------------------------------------------------------------
KM81 102 104.9 2.9 0.574 0.469 0.039 0.063 0.15 0.721 30
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(i) LREO: Light rare earths in oxides = La2O3 to Nd2O3. (ii)MREO: Medium
rare earths in oxides = Sm2O3 to Gd2O3. (iii)HREO: Heavy rare earths in
oxides = Tb2O3 to Lu2O3. (iv)TREO: Total Rare Earth Oxides = LREO + MREO
+ HREO + Y2O3.
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Sub-divisions used by Roskill Information Services Ltd. and Industrial
Minerals Company of Australia Pty Ltd.
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"greater than " This symbol shown in the above table means that the
results are over limit. We are currently awaiting these new analyses.
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Matamec maintains a quality control program conforming to industry best practices in the sampling and analysis of drill core. The NQ core is split, with one half kept for reference at our Val d'Or facilities. Samples were then submitted in batches containing known standards and blanks to the ALS Chemex ("ALS") preparation facility in Val d'Or where the samples are reduced to pulps and couriered to ALS in Vancouver (B.C.) for analysis. The samples were analysed using a lithium borate fusion followed by ICP-MS methods on a 2 gram sample size while the overlimits were handled either by another round of ICP-MS on a diluted solution, for REE overlimits, or by wavelength dispersive XRF on fused beads for Zr overlimits. The samples and core are stored in a secure location until delivered to ALS.Andre Gauthier, President of Matamec, said that "the latest exploration program provides an exploration model which suggests that there is the potential for zones of REE-Y-Zr mineralization close to the surface in other areas of the Zeus property. Be that as it may, the Kipawa deposit, with its open-pit REE-Y-Zr potential, remains our priority in the near-future exploration campaigns".This is the fifth set of results released from Matamec's 2010 exploration campaign on its rare earths-yttrium-zirconium Zeus property, which covers much of the Kipawa Alkalic Complex. As well as the TH showing (see September 20th press release), the 2010 campaign included the Surprise showing (see August 19th, August 26th and September 2nd, 2010 press releases), the Falaises showing and the PB area, and ended with a 2115m drilling campaign on the Kipawa deposit.Alex Knox, geologist (M.Sc, P. Geol), and Aline Leclerc, geologist (OGQ) and Vice-President Exploration of Matamec, are qualified persons for the Zeus Project. As qualified persons, they have supervised the preparation of the scientific and technical information for the Zeus property and verified the data in this press release.Matamec Explorations Inc. at the Toronto Resource Investment Conference: Booth #1010Matamec is pleased to be hosting a booth (#1010) at the Toronto Resource Investment Conference on Saturday, September 25th and Sunday September 26th from 10:00 am to 5:00 pm at the Metro Toronto Convention Center, North Building. Members of Matamec's Zeus property team, most notably Anthony Mariano, will be present at the booth to answer your questions.About MatamecMatamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson JV property with Goldcorp Canada Ltd. and Goldcorp Inc. is the main target. In Quebec. the Company explores for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Leperance/Wachigabau property.Concurrently with the above mentioned exploration programs, Matamec's Quebec Tansim property is also being explored for rare metals such as lithium, tantalum and niobium.A map is available at the following address: http://media3.marketwire.com/docs/Figure1eng.pdf"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."